Polish Regulator Recognizes Bitcoin Businesses

All of this goes to show the financial sector remains insecure despite all of the recently issued warnings. Criminals often use malware to attack financial institutions around the world. In most cases, these efforts are more than successful, creating a strain on the financial ecosystem. Things are getting out of hand in Poland, though, as the financial regulator allegedly infected various banks with malware. A rather disturbing development seemingly orchestrated by foreign hackers. It is not often a financial regulator infects banks with malware. It appears the Polish financial regulator....

Poland has officially recognized the trading and mining of virtual currencies as an ‘official economic activity’ according to the Central Statistical Office of Poland, hereinafter GUS. GUS is Poland’s executive agency dealing with national statistics and reports directly to the Polish Prime Minister’s office. A new classification for Bitcoin and others. A statement posted in Polish on the GUS website and machine translated says that starting Dec. 1, 2016, the issuance of electronic currency and purchase and sale of electronic currency via the internet stand classified by official....

With the legal status of bitcoin still under debate in Poland, a recent announcement by an official from the country's Ministry of Finance sheds more light on the complex issue. A growing number of local businesses are embracing the use of bitcoin, but national authorities remain cautious about regulating the use of digital currencies in the Polish economy. On 18th December, a seminar on the legality of bitcoin was held at the Warsaw School of Economics (Szkoła Główna Handlowa). Based in the Polish capital Warsaw, SGH is one of the country's leading business universities. Speaking at the....

For years, Poland has been urging the regulation of the digital currency bitcoin; however, regulation has never been achieved. Now, though, in what many may consider a landmark decision, Poland’s Central Statistical Office (GUS) has recognized the trading and mining of electronic currency. This means that those companies who use virtual currencies with their business are now able to register with the GUS. According to GUS website, companies can do this by applying to obtain an official PKD 64.19.Z. This news signals a significant move for those within the digital currency industry in....

The number of companies accepting payment for services and goods in bitcoins is steadily rising in Poland. Although still relatively few, these businesses are paving the way for the increased local use of the digital currency. Meanwhile, Polish state institutions are yet to present a coherent stance on the digital currencies and their role in local financial transactions. Social media agency faceADDICTED is one of the latest companies to join the ranks of bitcoin proponents in Poland. Based in the country's capital city Warsaw, the agency decided to reinforce its online presence by....